although it was looking like market players were just ready to close up shop and call it a week, a fresh wave of buying kicked in about two hours before the close, sending just about the entire market back to the highs of the session. there didn’t look to be any particular catalyst, and the buying was spread across sectors.
while the averages finished in mixed territory, they were able to make some technical progress, for those that believe in that, but now that the major reports are just about out of the way, some suspect that a more significant pullback may be in the cards.
for now, however, the ball is in the bulls’ court. certainly, some more upside in the near-term looks to be probable, but a game plan for future weakness might be prudent at this point.
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